Remember how President Obama said that you can’t just wave a magic wand and bring jobs back? You don’t need a magic wand when you’re Trump and you cut regulations, reduce the corporate tax rate, and cut taxes.
The Labor Department released its monthly hiring and unemployment figures for August on Friday morning, providing one of the better snapshots of the state of the American economy. 201,000 jobs were added. Economists had expected a gain of about 190,000.
Average hourly earnings rose by an impressive 0.4 percent after growing by 0.3 percent in July. The year-over-year gain was 2.9 percent, up from 2.7 percent. The unemployment rate remained at 3.9 percent.
Anxieties over trade and tariffs did little to dent a 95-month streak of job creation as employers once again fattened their payrolls, and wages kicked up.
Over the past six months, 781,000 part-time workers have moved to full-time jobs.